The technology sector grinded to a halt on Tuesday, March 4, 2024, as most artificial intelligence stocks fell lower than in previous days. However, one relatively small name managed to swim against this current.
Yesterday, Airship AI Holdings, Inc. (NASDAQ: AISP) saw its stocks rocket 200% ($4.95) after an announcement the sensor and data-management company had agreed upon a contract with an agency within the United States Department of Justice (DOJ).
At the time of publication, Airship AI stood at $6.69, an improvement of $1.74 (+35.15%) in premarket trading.
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Airship AI meets the DOJ
For a bit of context, Airship AI is a leader in AI-driven video, sensor, and data management surveillance solutions. Its contact with an agency within the Justice Department is centered around the company’s Acropolis Enterprise Sensor Management video and data management platform, designed to support emerging public safety and investigative requirements.
In a press release on Tuesday, March 4, Paul Allen, the President of Airship AI noted that:
“This award represents an expansion of a pilot program started with the agency in 2023, validating our ability to meet demanding agency operational and security requirements.”
He added that:
“Equally as exciting is this project represents the second U.S. Government agency to deploy our Acropolis platform in a FedRAMP certified cloud environment, a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services.”
About Airship AI
Airship AI, founded in 2006 in Redmond, Washington, is a technology company in the U.S. It offers a surveillance platform driven by AI, focusing on video, sensor, and data management to enhance public safety and operational efficiency for its customers.
The platform provides predictive analysis and intelligence. Its products include Outpost AI edge hardware and software, Acropolis enterprise software, and Command visualization tools.
While the newest contact with the DOJ is promising, Airship AI still remains a relatively small company, with a market capitalization of about $135 million. The company went public only in December 2023, through a merger with a special-purpose acquisition company.
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